After Health Ministry warning: Bazan stock plummets on the stock exchange

Bazan's stock is plunging by more than 8% on the stock exchange after the Ministry of Health and the Ministry of Environmental Protection issued a warning about abnormal concentrations of benzene measured near the oil refineries in Haifa. Following the warning, two nearby schools were moved to alternative sites, and residents within a range of up to one kilometer were advised to avoid unnecessary time outdoors. Despite the decline, the stock still shows an increase of nearly 100% since the beginning of the year.

Bazan's stock, the company operating the oil refineries in Haifa Bay, is plunging by more than 8% on the Tel Aviv Stock Exchange this morning (Monday, October 12, 2026), following a severe warning issued by the Ministry of Health and the Ministry of Environmental Protection. According to the ministries' announcement, during last weekend (October 9-10), very abnormal concentrations of benzene were measured at a monitoring station near the Deshanim industrial zone in Kiryat Ata. On October 11, high concentrations were also measured at the monitoring station in Haifa, in the area of the old licensing office, and at another station in Kiryat Ata. Following the incident, the Ministry of Health, in consultation with the Ministry of Environmental Protection and in coordination with the Kiryat Ata municipality, ordered the relocation of two nearby schools to alternative sites within the next day. Additionally, residents within a range of up to one kilometer from the refineries, especially children and pregnant women, were advised to avoid unnecessary time outdoors. The Ministry of Environmental Protection ordered the cessation of maintenance work at the site and demanded that the plant investigate the incident and submit a detailed plan for the work and measures to prevent further deviations, as a condition for their resumption. The incident occurs against the backdrop of periodic maintenance work and damage restoration at the refinery complex, carried out in recent days. Despite the sharp decline, the article notes that Bazan's stock still shows an increase of nearly 100% since the beginning of the year.